Tag: operational autonomy

The Major Port Authorities Bill, which seeks to provide significant operational autonomy to the major ports, will allow the 12 state-run entities to work like a corporate with full flexibility, says a research report. Terming the proposed law as a significantly positive step for the state-run ports, domestic rating agency ICRA in a report said “the Union shipping ministry aims to enable the port authorities to function like a corporate entity and provide autonomy and flexibility to operate, besides bringing in a professional approach in their governance.” K Ravichandran, senior vice-president at Icra, said the move will give autonomy to ports in raising loans sans government approvals, which is a potential positive as in the past some major ports have struggled to implement expansion...